Canadian Company Eyes French Offshore Wind Opportunities

Boralex, a Canadian renewable energy company, plans to enter the European offshore wind market by developing projects of 100 to 300 MW capacity.

The projects would be installed in France, and the company is already negotiating with a potential European partner, the Global Post writes.

Boralex has unveiled its offshore wind plans during a conference call, following the release of its Q1 results.

The company, which develops and operates wind, hydroelectric, thermal and solar energy projects, recorded a 49% higher revenue in the first quarter of 2014. Its EBITDA rose 56%, and cash flows from operations amounted to $36.0 million (an increase of 58%). In wind sector alone, energy production, income and EBITDA have more than doubled.